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India puts on hold benefits under export schemes for temporary period
09 Jul '21
1 min read
Pic: Shutterstock
Issuance of benefits under different export incentive schemes would be on hold for a temporary period due to changes in the allocation procedure, the Indian commerce ministry yesterday said. The Directorate General of Foreign Trade (DGFT) under the ministry said no fresh applications would be allowed on the DGFT portal for these schemes during the period.
All submitted applications pending for issuance of scrips would also be on hold, it said in a notification.
Exporters avail benefits under schemes like the Merchandise Export from India Scheme (MEIS), Services export from India Scheme (SEIS), Rebate of State Levies (RoSL) and Rebate of State and Central Taxes and Levies (ROSCTL).
Depending on the nature of services and product, the government gives duty credit scrips or certificates to exporters. These scrips can be transferred or used for payment of a number of duties including the basic customs duty.
Trade would be suitably informed once issuance of scrips opens again, the notification added.
All submitted applications pending for issuance of scrips would also be on hold, it said in a notification.
Exporters avail benefits under schemes like the Merchandise Export from India Scheme (MEIS), Services export from India Scheme (SEIS), Rebate of State Levies (RoSL) and Rebate of State and Central Taxes and Levies (ROSCTL).
Depending on the nature of services and product, the government gives duty credit scrips or certificates to exporters. These scrips can be transferred or used for payment of a number of duties including the basic customs duty.
Trade would be suitably informed once issuance of scrips opens again, the notification added.
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